Marx's Law of the Profit Rate and the Reproduction of Capitalism: Neither Determinism Nor Overdetermination

Marx's Law of the Profit Rate and the Reproduction of Capitalism: Neither Determinism Nor Overdetermination

This article supports a holistic interpretation of Marxian thought to argue the existence of socio-historical, objectives and tendential laws of motion governing the reproduction of the system. In particular, it highlights the place of the law of the tendency of the rate of profit to fall in the ana...

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Veröffentlicht in:World Review of Political Economy. - Pluto Journals. - 9(2018), 1, Seite 41-60
Format: Online-Aufsatz
Veröffentlicht: 2018
Zugriff auf das übergeordnete Werk:World Review of Political Economy
Schlagworte:methodology economic law profit rate Marxist economics Economics Philosophy Business Physical sciences Behavioral sciences
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520 |a This article supports a holistic interpretation of Marxian thought to argue the existence of socio-historical, objectives and tendential laws of motion governing the reproduction of the system. In particular, it highlights the place of the law of the tendency of the rate of profit to fall in the analysis of the reproduction of capitalism, and therefore the theory of crisis, as crises arise from the inner logic of capital. While holistic and emphasizing the objective aspects, this approach is not deterministic, nor does it fall into the indeterminacy of the overdetermination approach. 
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